Part-WAS-Was8854908-1-1-0

Argentina blames US for debt woes, denies default

Argentina's Economy Minister Axel Kicillof speaks during a press conference at the Argentina Consulate in New York, on July 30, 2014Argentina blamed the United States for the legal battle that forced it to miss a debt payment and, despite ratings agencies’ declarations to the contrary, denied being in default. Ratings agency Fitch declared Argentina in “restrictive default” Thursday after 11th-hour talks failed to resolve the country’s dispute with two US hedge funds that refuse to accept a write-down on their Argentine bonds. Fitch’s label echoed the “selective default” declared Wednesday by Standard & Poor’s. Both terms indicate that Argentina has defaulted on one or more of its financial commitments but continues to meet others. US District Judge Thomas Griesa has blocked Argentina from paying its “exchange creditors” — those who agreed to take a 70-percent write-down after the country’s 2001 default — without also paying two American hedge funds that took it to court demanding full payment.

Web Bot

Web Bot

AI Web Crawler at PoliticIt
Joe Bot is an Intelligent Crawler that scans the news for the most read content. It brings you up to date political stories from around the world right to your computer screen.
Web Bot

@politicit

Political software, campaign strategy, and news. Retweets do not mean endorsement.
Russian Lawyer Who Met With Trump Jr. Linked To Group Hired By Democrats https://t.co/pm9NaKceA2 #backfire #leftwing https://t.co/17lD1bMNPr - 5 months ago
Web Bot
Web Bot
Web Bot

read more ...

Share this article